The Reason You Are Broke (It’s Not What You Think)

You ever watched a movie, where maybe the main characters finds out that his family has this massive curse and now its to him to break it. And after going through a ton of conflict he breaks the curse. And it’s a great story, and when you think about in out lives it’s the same story.

Think about it, if youre watching this video and you’re broke. Most likely your parents are broke, your grandparents are also broke and their mom and dad were also broke. The craziest thing is that generation through generation the amount of money people made actually went up, including cost of living and everything else.

😎Call Me😎: https://bit.ly/30IBr0i

😎Second Channel😎: https://bit.ly/3c4sVPS

💲1 on 1 Talk + My Budget + Stock Investments💲
https://www.patreon.com/tommybryson

💰MY M1 FINANCE PORTFOLIO💰 PLUS $10
Link: https://m1.finance/37SHd4241z-N

Chapter:
0:00 Intro
2:45 The Bad Start
6:12 Parkinson’s Law
10:16 Self-Sabotage and Procrastination and LCH
13:52 Outro

1. The Bad Start
– No Education Fund
– No Financial Table Talks
– No Blue Print

What does this Do:
– No education fund means most of our parents consider college plan A and push you their and you walk out with a bunch of loans. To the point where I have heard stories of parents telling their kids don’t even bother trying to pay it back because it’s impossible.
– No Financial Table Talks : You don’t understand Credit, Investments and ROI. All you know is that at the end of the year if your broke you get a tax credit and you spend it on TV and if things go wrong stay on wealth-fare and don’t earn to much. I have friends that refuse jobs just so they don’t stop receiving benefits.
– No Blue Print: If no one has done it, its very hard to believe that any one will. And I know people that believe the only way to get rich is the lottery and I know people that I looked up to, that told me you are not going to be anything, you’ll end up just like us.

Good News :
– 80% of millionaire are first generation ( meaning they are breaking the curse for the first time too )
– Google is a Thing: so all those topics google it, ignorance is a choice today
– Its not the old days where you could get locked up for reading up a book

2. Parkinson’s Law
– And to explain it in a simple way
– Think about paycheck to paycheck people
– Almost everyone that has a job will not earn the same forever ( their pay will increase with time )

Parkinson’s Law says this: Effort And Time

Which means the more time you have for a job, the longer it will take ( that’s why you have a month to right a paper but you wrote the night before )

But with money it says this: as your Income raises So will your expenses

Remember you’ll make more money than your parents and you’re entire generation, so why are you broke ( because an increase income, means and increase in spending )

Solution is Simple But hard to Apply
– Live below your Means: spend less than you make
– But usually in poor families, you get made fun of for not spending your money or enjoying it
– Remember, if what they believed was right, they would have broken the course.

Tip: Budget your income and your expenses ( cut out all the wants, and watch some of my videos on paying debt and investing )

3. Self-Sabotage and Procrastination and LCH

Self Sabotage:
– You ever seen the mean that rides the bike and then puts the stick in between the wheels and starts complaining ( that’s us)
– I didn’t believe this either, until financially I would save money and then boom spend it
– My health I would lose weight and then boom gain it
– I recommend this book ( stop doing that Shi**)

Procrastination:
– Don’t wait until its to late and opportunities stop knocking take actions today on this video
– I’m not selling you anything, this is all you

* PRO TIP*
INFORMATION IS EVERYTHING

👕Merch👕
https://teespring.com/stores/tommybryson

✅2 FREE AUDIOBOOKS✅
https://amzn.to/2Enayo8¬¬¬

💰M1 FINANCE $10💰
https://m1.finance/37SHd4241z-N

🎁ACORN FREE $5🎁
Link: https://acorns.com/invite/38EYSU

⚡FREE KINDLE UNLIMITED⚡ (traditional reading)
Link: https://amzn.to/2VGbxt9

👨🏽‍💻DISCORD PRIVATE GROUP👨🏽‍💻
https://discord.gg/EcZEHpA

My Camera Gear: https://www.amazon.com/shop/tommybryson

✔ Help Us Reach 500,000 Subscribers: https://goo.gl/0wvm6w

😎All My Social Media😎
Link: https://linktr.ee/tommybryson

*Some of the links and other products that appear on this video are from companies in which Tommy Bryson will earn an affiliate commission or referral bonus. Tommy Bryson is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. I’m an Accountant but I’m not your Accountant, always review information with your Accountant/CPA and your Financial Advisor.

source